GRA beats GHS 12.6bn revenue target set for January and February
The Ghana Revenue Authority (GRA) has announced that it collected ¢13.3 billion in taxes in the first two months of 2023, exceeding the projected ¢12.6 billion by 5%. This positive performance is attributed to staff dedication, improved invigilation by its officers, and the implementation of technology in its operations. The commissioner general of the GRA, Rev. Dr. Ammishaddai Owusu-Amoah, made this announcement in a recent interview, and provided insights into the authority’s efforts to meet the ¢106 billion revenue collection target set for 2023, representing a year-on-year growth of 40%.
The commissioner general highlighted that the GRA’s progress in tax collection can be attributed to its focus on technological solutions. The authority has implemented several electronic initiatives to simplify tax payment processes, including online tax filing and a reduction in the collection of cheques at its various offices. This shift towards technology has helped the GRA to improve efficiency, reduce operational costs and enhance its revenue collection efforts. The commissioner general stated that the authority plans to remain focused on technology going forward, in order to meet its 2023 revenue targets.
The GRA’s impressive revenue collection in the first two months of 2023, despite slow economic activity in the first quarter of the year, has raised hopes of meeting its end-of-year target. The commissioner general highlighted that the revenue collection growth was 522% more than the initial 40% year-on-year growth projection. This growth can be attributed to improved revenue monitoring efforts, increased use of technology, and the implementation of the Ghana cards, which have helped the authority to gain a better understanding of taxpayers who are liable to pay taxes to the state.
The commissioner general also provided insights into the GRA’s performance in 2022, when it collected ¢75.54 billion by the end of the year, exceeding the target of ¢71.94 billion. This growth in tax collection was over 30% year-on-year and reflects the GRA’s efforts to streamline its operations and enhance efficiency. The commissioner general rejected claims that the GRA does not set realistic targets and emphasized that there has been significant growth in tax collection over the years. For instance, the growth in collections from 2020 to 2021 stood at 26.5 percent, the highest over the last ten years.
Furthermore, the commissioner general provided an update on the E-Levy platform, which the GRA implemented to collect taxes on electronic transactions. In December 2022, the authority collected ¢103 million through the E-Levy platform, and ¢87 million through the same platform in January 2023. The commissioner general noted that the Finance Minister in the 2023 Budget had reduced the percentage charge for the levy to 1%, but the ¢100 daily exemption was not approved by parliament.
The GRA’s impressive revenue collection performance in the first two months of 2023 demonstrates the authority’s commitment to enhancing its revenue collection efforts through the use of technology and improved monitoring. The authority’s focus on technological solutions, such as online tax filing and the E-Levy platform, has helped to streamline its operations, enhance efficiency, and increase revenue collection. With continued efforts towards technological innovation and efficient operations, the GRA is well-positioned to meet its ambitious revenue collection targets for 2023.
